{"id":26897,"date":"2024-08-18T14:00:36","date_gmt":"2024-08-18T11:00:36","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=26897"},"modified":"2024-08-18T09:54:14","modified_gmt":"2024-08-18T06:54:14","slug":"worlds-3rd-largest-public-pension-fund-buys-34-million-in-microstrategy-shares","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/worlds-3rd-largest-public-pension-fund-buys-34-million-in-microstrategy-shares\/","title":{"rendered":"World\u2019s 3rd Largest Public Pension Fund Buys $34 Million in MicroStrategy Shares"},"content":{"rendered":"

South Korea\u2019s public pension fund has purchased $34 million worth of shares in Bitcoin buying firm MicroStrategy, increasing its exposure to crypto.<\/p>\n

South Korea\u2019s National Pension Service (NPS), the world\u2019s third-largest public pension fund, announced in a filing with the U.S. Securities and Exchange Commission (SEC) on August 13 that it has purchased 24,500 shares of MicroStrategy for $33.75 million.<\/p>\n

The National Pension Service is South Korea\u2019s public pension fund and is the country\u2019s largest investor, with assets totaling 1 trillion won ($777 billion) as of the end of February. The fund\u2019s filing, which details its investments for the quarter ending June 30, shows that the fund still owns more than $51 million worth of Coinbase stock, or 229,807 shares of the crypto exchange.<\/p>\n

Japan\u2019s government pension fund is the world\u2019s largest pension fund, with total assets close to $1.5 trillion by 2023, according to the Thinking Ahead Institute\u2019s annual Global Retirement Assets Study. Norway\u2019s government pension fund is second with assets slightly over $1.3 trillion. Meanwhile, MicroStrategy (MSTR) has gained 92.5% so far this year and is above $150 for the first time in 24 years, according to Google Finance.<\/p>\n

Might interest you: Bitcoin Sell Pressure Could Test $56K Support as Options Expiry Nears<\/a><\/em><\/p>\n

The company has been buying Bitcoin since August 2020, and according to its earnings report published earlier this month, it purchased an additional 12,222 Bitcoins for $805 million in the second quarter of 2024.<\/p>\n

MicroStrategy\u2019s latest Bitcoin purchase brings its total Bitcoin holdings to 226,500 BTC, worth around $13.19 billion at Bitcoin\u2019s current price.<\/p>\n

This makes MicroStrategy the publicly traded company with the largest Bitcoin holdings, with 13 times more Bitcoin than Marathon Digital, the world\u2019s largest Bitcoin miner.<\/p>\n

Other investors also see MicroStrategy as a good bet, with exchange-traded fund (ETF) issuer Defiance ETFs launching a U.S.-based fund targeting MicroStrategy with 175% long daily exposure.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

South Korea\u2019s public pension fund has purchased $34 million worth of shares in Bitcoin buying firm MicroStrategy, increasing its exposure to crypto. South Korea\u2019s National Pension Service (NPS), the world\u2019s third-largest public pension fund, announced in a filing with the U.S. Securities and Exchange Commission (SEC) on August 13 that it has purchased 24,500 shares<\/p>\n","protected":false},"author":6,"featured_media":13404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[1494,1496,1497,7925],"class_list":["post-26897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-microstrategy","tag-microstrategy-bitcoin","tag-microstrategy-bitcoin-holdings","tag-microstrategy-porfolio"],"yoast_head":"\nWorld\u2019s 3rd Largest Public Pension Fund Buys $34 Million in MicroStrategy Shares - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/worlds-3rd-largest-public-pension-fund-buys-34-million-in-microstrategy-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World\u2019s 3rd Largest Public Pension Fund Buys $34 Million in MicroStrategy Shares - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"South Korea\u2019s public pension fund has purchased $34 million worth of shares in Bitcoin buying firm MicroStrategy, increasing its exposure to crypto. 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